MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Yield Inch Higher, Markets Skittish As Debt Default Nears

US TSYS
Treasury futures holding mildly weaker levels after the close, lower half of a modest session range after a couple brief rounds of volatility. Cautious trade with no economic data to react to Monday, participants are eager for a breakthrough in US debt ceiling negotiations (talks resume tonight around 1730ET).
  • Aside the potential default risk, markets are eager for the release of May FOMC minutes this Wed at 1400ET. Early Fed speak proved balanced to mildly hawkish.
  • SOFR futures are trading weaker in the very short end after MN Fed President Kashkari commented on CNBC that the June rate decision is a “close call” for him, broadly reiterating his comments to WSJ published Sunday. While Kashkari told WSJ he is "open to the idea that we can move a little bit more slowly from here", the focus is on "I would object to any kind of declaration that we're done."
  • Federal Reserve Bank of Atlanta President Raphael Bostic said Monday he's comfortable waiting to see how the economy is reacting to past interest rates increases before entertaining any further hikes.
  • Early knee-jerk risk-off moves, rates gapped back to pre-open levels at midmorning, stocks ticked lower following social media posts that a "large explosion" near the Pentagon complex had occurred. Markets snapped back just as quickly as the rumors proved false.
  • Decent volumes (TYM3 1.6m) driven by a pick-up in Jun/Sep Treasury futures rolling ahead first notice date of May 31.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.